I have been inundated from friends, colleagues, listeners and more on my most recent show e.g., Monday’s. The prevailing question is “Are you closing down your site?” The answer to that is an emphatic: No!
What I am doing is revamping, retooling, reorganizing and rethinking everything when it comes to what I want to put forward from here on out, because the world of business has been dramatically altered going forward. The implications of what we are currently witnessing in both experience and sheer magnitude is profound. And there is no way to just dance around the edges to improve. What’s called for is a total reboot, which is what I’m now focused on intently.
Currently as I type this both J.P. Morgan Chase™ and Wells Fargo™ have reported their latest earnings – and they are abysmal. Loan losses have skyrocketed, loan loss provisions have been increased multiple folds. And the outlook going forward looks even worse.
And what are the “markets” currently doing? Hint: They are up another 2.5% plus.
“But wait… There’s more!!!” as they say on late night TV.
Car sales globally are near non-existent. Most companies have shut down. One would think in a sane and rationale marketplace this would be the time that fundamentals would exert themselves, you know, like sales, expenses and such. Well, that is – unless you’re Tesla™.
As I type this with the world on the brink of what many believe is an outright coming collapse for the auto industry, Tesla is up again today.
“By how much” you ask? Great question, for it wouldn’t be such a shock if it were up one or two percent. But how about over 13% to $741.00 plus. The only thing more laughable (in my view) are the current analysts defending it.
So with that said let me say this: This site is not going away nor is the broadcast. I’m just adapting to the current circumstances to offer more useful pragmatics versus the running commentary I seemed to have fallen into I find no longer useful to either of us.
So stay tuned. And for those wondering – my “One For The Record Books” viewpoint has not changed one iota. As a matter of fact – the higher this “market” goes under the current circumstances the more I stand by it.
As always, we shall see.
© 2020 Mark St.Cyr